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Note 3 - Segment Information
 9 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

3.

Segment Information

 

Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the Company's executive management in deciding how to allocate resources and assess performance. The Company uses operating income and equity in earnings to assess segment performance.

 

Intersegment transactions are recorded at cost.

 

The reportable segments disclosed herein are defined as follows:

 

Gas Utility - The natural gas segment of the Company generates revenue from its tariff rates and other regulatory mechanisms through which it provides the sale and distribution of natural gas to its residential, commercial and industrial customers.

 

Investment in Affiliates - The investment in affiliates segment reflects the income generated through the activities of the Company's investment in the MVP and Southgate projects.

 

Parent and Other - Parent and other include the unregulated activities of the Company as well as certain corporate reporting adjustments.

 

Information related to the Company's segments are provided below:

 

  

Three Months Ended June 30, 2024

 
  

Gas Utility

  

Investment in Affiliates

  

Parent and Other

  

Consolidated Total

 

Operating revenues

 $14,431,379  $—  $26,823  $14,458,202 

Depreciation

  2,697,707   —   —   2,697,707 

Operating income (loss)

  1,574,375   (37,692)  20,910   1,557,593 

Equity in earnings

  —   282,604   —   282,604 

Interest expense

  868,000   699,093   —   1,567,093 

Income (loss) before income taxes

  637,332   (454,462)  20,885   203,755 

 

  

Three Months Ended June 30, 2023

 
  

Gas Utility

  

Investment in Affiliates

  

Parent and Other

  

Consolidated Total

 

Operating revenues

 $13,631,856  $—  $28,389  $13,660,245 

Depreciation

  2,419,541   —   —   2,419,541 

Operating income (loss)

  1,839,910   (63,766)  22,321   1,798,465 

Equity in earnings

  —   519,482   —   519,482 

Interest expense

  808,384   615,182   —   1,423,566 

Income (loss) before income taxes

  1,039,212   (160,402)  22,296   901,106 

 

  

Nine Months Ended June 30, 2024

 
  

Gas Utility

  

Investment in Affiliates

  

Parent and Other

  

Consolidated Total

 

Operating revenues

 $71,455,564  $—  $81,366  $71,536,930 

Depreciation

  8,093,121   —   —   8,093,121 

Operating income (loss)

  16,884,683   (106,380)  61,036   16,839,339 

Equity in earnings

  —   2,979,823   —   2,979,823 

Interest expense

  2,748,741   2,021,238   —   4,769,979 

Income before income taxes

  14,277,365   851,777   60,965   15,190,107 

 

  

Nine Months Ended June 30, 2023

 
  

Gas Utility

  

Investment in Affiliates

  

Parent and Other

  

Consolidated Total

 

Operating revenues

 $

84,885,600

  $

—

  $

86,637

  $

84,972,237

 

Depreciation

  

7,258,623

   

—

   

—

   

7,258,623

 

Operating income (loss)

  

17,034,575

   

(169,217)

   

69,014

   

16,934,372

 

Equity in earnings

  

—

   

523,581

   

—

   

523,581

 

Interest expense

  

2,441,296

   

1,747,296

   

—

   

4,188,592

 

Income (loss) before income taxes

  

14,798,527

   

(1,394,950)

   

68,939

   

13,472,516

 

 

  

June 30, 2024

 
  

Gas Utility

  

Investment in Affiliates

  

Parent and Other

  

Consolidated Total

 

Total assets

 $274,432,384  $20,418,572  $19,303,204  $314,154,160 

 

  

September 30, 2023

 
  

Gas Utility

  

Investment in Affiliates

  

Parent and Other

  

Consolidated Total

 

Total assets

 $268,664,460  $17,882,108  $17,182,772  $303,729,340